CBRE has completed the sale of the former Nimbus Brewery and Restaurant building at 6464 E. Tanque Verde Road in Tucson. The property commanded a sale price of $1.415 million, or $168 per square foot.
Pete Villaescusa and Jesse Peron with CBRE’s Tucson office negotiated on behalf of the seller, McMahon Properties, LLC of Tucson. Jim and Ryan Egan of Prime Commercial Real Estate represented the buyer, All Real Property, Inc. of Camp Verde, Arizona.
“Any long time Tucson resident remembers when this building was Bobby McGee’s,” said CBRE’s Villaescusa. “The building is located in the heart of the old restaurant row area of Tucson, and it will provide a new restaurant operator with a great, well-known location.”
The sale of the property was part of a bankruptcy sale and included restaurant equipment left in the building. Former-tenant Nimbus closed in 2013 after the brewery filed for Chapter 11. Landlord/property owner and local restaurateur Bob McMahon, owner of McMahon, Inc., then also filed for Chapter 11 in early 2014. In May of this year, the court converted it to Chapter 7 and ordered liquidation of all assets.
Zoned C-2, which allows for a restaurant or bar operation, the property is located in the heart of Tucson’s restaurant district. The building is approximately 8,439 square feet and is situated on just over two acres of land. The new ownership team plans to market the property for new restaurant/bar uses.